1/24/2017

Venezuela's Currency and its new Syrian Vicepresident

Nicolás just fired his Central Bank President, Nelson Merentes, because the guy botched the issuance of new larger denomination bills. Inflation is so high the largest bill will be the 20 thousand bolivar note. The largest note has been the 100 bolivar, now worth 2 1/2 cents. 

Merentes wasn't blamed for the 800-1000% inflation rate, because Maduro was told inflation is caused by a webpage run by an old Venezuelan who works at Home Depot in Atlanta, Georgia (this is for real, it's not a joke).

The guy Maduro blames for causing Venezuela's hyperinflation   

When the government came up with their plan to switch notes they also created regulations to force people to use electronic banking. But poor people don't have bank accounts, Internet, etc. I remember reading articles by economic gurus a couple of months ago that Maduro's plan was based on the success of what Modi was doing in India. 

The ex-central bank president, Merentes, will now retire to his beachside fiefdom at Naiguatá, where he has been keeping a stable of teenage girls who have had plastic surgery to enhance their goodies. 

Also in the news, the Venezuelan Supreme Court ruled the Constitution was wrong, and that Syrian citizen and executive Vice President, Tarek el Aisami, is eligible to be president.  

Meanwhile I hear Mr Bernie Sanders is still praising the Castros and the Bolivarian revolution, and the Pope keeps asking for world leaders to stop global warming. 

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